THE value of Floki Inu has soared recently – but investors will be hoping for even more.
In the past 24 hours, the value of the cryptocurrency has risen by 51% to $0.000283, according to Coinbase.
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Floki Inu, known as FLOKI, has also rocketed by 310% in seven days and by 467% over the past month.
We explain how the price could change in future – and whether it could reach $0.10.
If you’re looking to invest, you need to be aware that cryptocurrencies are highly volatile and their values can make large swings with no notice.
That’s why it’s important not to invest more than you can afford to lose or into anything you don’t understand.
Newer cryptocurrencies are also riskier than more established ones, such as Bitcoin, and make you more open to scams.
Plus, there’s scant regulation for crypto firms so you’ll be without protection if things go wrong.
What is Floki Inu?
Floki Inu launched earlier this year and is a crypto coin by fans of Shiba Inu.
The latter has soared in value recently, and is currently up by 976.24% over the past month at $0.00007510, according to Coinbase.
Shiba Inu was launched as an alternative to Dogecoin and also uses the dog as its logo.
According to its website, Floki Inu is inspired by Tesla founder Elon Musk’s very own Shiba Inu puppy.
It’s been designed to be a deflationary token that rewards investors for holding.
Zak Killermann, fintech and crypto expert of Finder, told The Sun: “Floki Inu is looking to play on the success of other meme coins.
“Musk recently adopted a Shibu Inu which he named ‘Floki Frunkpuppy,’ which is the inspiration for the token’s naming.”
Future Floki Inu price predictions
How Floki Inu will change in value in future is impossible to know for certain, but crypto fans have still made predictions.
You’ll need to take them with a pinch of salt though, as they’re not guaranteed.
The cryptocurrency market is affected by a wide number of factors, including regulatory crackdowns, project launches and comments by high-profile individuals including Mr Musk.
Price Prediction expects Floki Inu to reach an average price of $0.00031155 in 2022.
It then predicts a $0.001 value by 2025 and $0.007 by 2030.
In comparison, Digital Coin Prediction predicts Floki Inu to reach $0.0004782661 in 2021, $0.0008198839 in 2025 and $0.0012786540 in 2028.
In other words, if you’re hoping for Floki Inu to hit $0.10, you’ll likely be waiting a long time.
However, it’s important to note that if Floki Inu’s price soars further, price predictions will change.
Mr Killermann: “If the FLOKI project successfully manages to replicate the success of DOGE, it has the potential to pay off for investors; however, I’d strongly recommend investors approach with extreme caution.
“The price of Floki Inu did have a huge surge after a very successful marketing campaign that suggests Elon Musk is involved in the token, however given Musk is not actually connected to the token, Floki is unlikely to benefit from the ‘Musk tweet effect’ we’ve seen with DOGE and Shiba Inu token.
We round up five things you need to know about the Shiba Inu tokens.
Plus, here are a few things to note about Dogecoin.
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